Cannabis Briefs for December 15, 2020
December 15, 2020•Illinois cannabis sales totaled $75.2 million in November, falling just shy of October’s $75.3 million haul. It’s the first time the state has failed to set a monthly sales record since April’s figure of $37.2 million. Illinois residents purchased $54.5 million worth of cannabis products and out-of-state visitors spent $20.6 million. The number of items sold each month has risen in conjunction with expenditures and passed the 1.5 million mark in October and November. Total sales for the year broke the half billion threshold in October and currently sit at approximately $582 million.
•Mexican legislators have again delayed their vote on cannabis legalization. The nation’s Chamber of Deputies—equivalent to the U.S. House of Representatives—last week requested a deadline extension into next year. With approval from the Mexican Supreme Court, which had previously mandated that legalization be voted on by December 15, the Congress now has until the end of its next session in April 2021. Mexico’s Senate approved its bill last month but the lower chamber voiced concerns with a number of specific provisions.
•Colorado cannabis sales for the year through October eclipsed last year’s total, according to the state’s Department of Revenue. October sales fell just short of $200 million following a string of months above that watermark and an all-time high of $226 million in July. October’s figure is up approximately 33% compared to the same month last year. Sales for the first 10 months of 2020 stand at a cumulative $1.8 billion, up from 2019’s 12-month total of $1.75 billion. Denver also recently revealed plans for cannabis delivery and public consumption lounges, which could open by next summer if approved by the city council.
•Tempe, Arizona-based Harvest Health & Recreation announced that COO Ronald Goodson is retiring at the end of the month. The company has no immediate plans to fill the vacancy. Instead Goodson’s responsibilities will be assumed by other members of Harvest’s senior leadership team.
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